Weekly market outlook : The market is eagerly awaiting data on inflation and industrial production to provide further guidance Says Vinod Nair, Geojit Financial Services
Below Quote on Weekly market outlook 09 Septmeber 2023 By Vinod Nair, Head of Research at Geojit Financial Services
"Domestic indices experienced a gradual rally throughout the week, buoyed by strong domestic macroeconomic data such as robust GDP and PMI figures, which painted a positive outlook for the domestic market. Despite a mixed global trend marked by weak cues, Indian equities remained resilient, supported by this strong economic outlook. Global concerns were sparked by a surge in crude oil prices, August's US jobless claims data, weak Chinese service PMI and trade figures, and rising gas prices due to strikes in Australia. However, in the broad market, mid- and small-cap stocks attracted strong buying interest, even though their valuations were relatively high. Moreover, heightened order inflows made sectors like infrastructure and realty particularly attractive to investors during the week. Currently, the market is eagerly awaiting data on inflation and industrial production to provide further guidance."
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